Phoenix Coyotes Remain Orphaned After Greg Jamison Misses Deadline to Buy Team

Categories: Coyotes
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Stop us if you've heard this one before -- a deal to purchase the Phoenix Coyotes didn't work out.

Prospective owner Greg Jamison had a deadline of yesterday to buy the team and finalize an arena lease agreement with the City of Glendale, and it didn't happen.

According to Fox Sports Arizona, Jamison couldn't get the money together from investors to get the deal done.

Although Jamison continued to insist everything was A-OK and the deal was all good, anyone who's tracked the Coyotes' lack of ownership for the last four years knows not to get their hopes up.

That's something we mentioned in May of last year, when NHL Commissioner Gary Bettman came to Glendale, and held a press conference right before a playoff game to announce they'd found a buyer for the team.

As we wrote at the time, "The deal for Jamison and his group's purchase of the Coyotes was referred to by Bettman as 'an understanding,' an awkward but necessary description, considering the number of parties that have tried, and failed, to purchase the team."

And the trend continues, although Jamison says he's still going to try to buy the team.

"...[O]ur journey to purchase the Coyotes will continue," Jamison said in a statement yesterday, obtained by Fox Sports Arizona. "We realize this will require additional conversations with the city of Glendale and the NHL. We still believe we can reach an agreement that satisfies everyone. We hope negotiations with the city proceed as smoothly as possible, as everyone involved wants the Coyotes to remain in Arizona."

The number-one problem with that is what we heard Glendale Mayor Jerry Weiers tell Arizona Sports 620's Burns and Gambo.

"I had told him that I would honor the deal that the previous council had made," Weiers said. "That's true today, but not a second past it."

So, even though the league has insisted that it wants a Coyotes buyer who will keep the team in Arizona, who knows how long that will last. Again, the future of the Coyotes' ownership is uncertain.

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5 comments
tomhavey
tomhavey like.author.displayName 1 Like

If these deals can't be done without taxpayer subsidy then it's simple; the purchase price of the team is too high and/or the operating costs of the team are too high.  Cut the price of the team to the NHL, cut player salaries...play hockey

ReggieVV
ReggieVV

@. Absolutely true. No city, county or State should build a tax payer subsidized arena, or stadium for any pro sports. The universally researched objective studies have shown these are at best, net zero, and at worst (the Glendale case) a dead loser.

JohnQ.Public
JohnQ.Public topcommenter

If the Tohono O'dham really wanted to outflank the City of Glendale - they ought to buy the Coyotes.  Then the Tohono O'dham would really have Glendale's nuts in a vice.  How fast do you think Glendale would roll over on that whole casino project then?

ReggieVV
ReggieVV

The majority of those reading this are happy we are not taxpayers in the City of Glendale, nor City employees, all those who will pay for this mess. Thanks, Elaine.

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